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Chatham town, VA

ZIP 24531 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 24531

Median Home Value
$149,400
Median Rent
$509
Affordability Snapshot
$41,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$960/mo PITI).

13%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.2x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

24.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 24531 in Chatham town, VA, a household would need roughly $41,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $960. That sits below the local median household income ($46,706), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 16% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
79.6%+22% vs US avg
x
Vacancy Rate
15.5%+51% vs US avg
x
Broadband Access
68.3%-22% vs US avg
x
4+ Bedrooms
4.5%-70% vs US avg
x
Built Pre-1939
4.8%-63% vs US avg
x
Built Post-2014
0.5%-93% vs US avg
x
Rent Burden >30%
34.2%-31% vs US avg
x
Mortgage-Free
67.0%+75% vs US avg
x
$149,400
Home Value
$509
Rent
1972
Year Built
2007
Moved In

Residents have lived here since ~2007 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached81.0%
  • 1-unit attached0.9%
  • 2-9 units0.9%
  • 10+ units1.4%
  • Mobile home & other15.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$149,400
Median rent$509
Owner-occupied79.6%
Vacant15.5%
Price-to-income3.2x
Est. income to buy$41,000